ANRO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ANRO
Largest movements
- Receivables within one year -€23,081
down €23,081 (-37.8%), from €61,088 to €38,007
of which Trade receivables: -€17,581
- Stocks and contracts +€20,824
up €20,824 (+61.2%), from €34,000 to €54,824
- Tangible fixed assets -€11,754
down €11,754 (-18.6%), from €63,089 to €51,335
of which Furniture and vehicles: -€11,521
- Cash -€4,610
down €4,610 (-73.4%), from €6,285 to €1,675
mainly Stocks and contracts (-€20,824) and Trade debts (-€12,813)
- Trade debts -€12,813
down €12,813 (-43.6%), from €29,364 to €16,552
- Tax, wage and social debts -€4,042
down €4,042 (-76.4%), from €5,292 to €1,250
of which Remuneration and social security: -€4,000
- Gross operating margin +€6,969
up €6,969 (+50.8%), from €13,715 to €20,684
- Depreciation +€6,246
up €6,246 (+108%), from €5,792 to €12,038
- Financial charges +€4,427
up €4,427 (+315%), from €1,404 to €5,832
of which Financial charges: +€2,986
- Financial income -€221
down €221 (-16.2%), from €1,367 to €1,146
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,107 | €146,902 | -€18,206 | -11.0% |
| Fixed assets | 21/28 | €63,124 | €51,370 | -€11,754 | -18.6% |
| Tangible fixed assets | 22/27 | €63,089 | €51,335 | -€11,754 | -18.6% |
| Plant, machinery and equipment | 23 | €233 | - | -€233 | |
| Furniture and vehicles | 24 | €62,856 | €51,335 | -€11,521 | -18.3% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €101,984 | €95,532 | -€6,451 | -6.3% |
| Stocks and contracts in progress | 3 | €34,000 | €54,824 | +€20,824 | +61.2% |
| Contracts in progress | 37 | €34,000 | €54,824 | +€20,824 | +61.2% |
| Amounts receivable within one year | 40/41 | €61,088 | €38,007 | -€23,081 | -37.8% |
| Trade receivables | 40 | €35,582 | €18,000 | -€17,581 | -49.4% |
| Other amounts receivable | 41 | €25,506 | €20,007 | -€5,499 | -21.6% |
| Cash at bank and in hand | 54/58 | €6,285 | €1,675 | -€4,610 | -73.4% |
| Deferred charges and accrued income | 490/1 | €611 | €1,026 | +€415 | +67.9% |
| Total equity and liabilities | 10/49 | €165,107 | €146,902 | -€18,206 | -11.0% |
| Equity | 10/15 | €37,399 | €37,209 | -€191 | -0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,568 | €1,568 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,568 | €1,568 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,568 | €1,568 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,232 | €17,041 | -€191 | -1.1% |
| Amounts payable | 17/49 | €127,708 | €109,693 | -€18,015 | -14.1% |
| Amounts payable after more than one year | 17 | €49,183 | €47,949 | -€1,234 | -2.5% |
| Financial debts | 170/4 | €49,183 | €47,949 | -€1,234 | -2.5% |
| Amounts payable within one year | 42/48 | €78,125 | €61,744 | -€16,381 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €18,760 | €19,234 | +€474 | +2.5% |
| Trade debts | 44 | €29,364 | €16,552 | -€12,813 | -43.6% |
| Suppliers | 440/4 | €29,364 | €16,552 | -€12,813 | -43.6% |
| Advances received on contracts in progress | 46 | €3,708 | €3,708 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,292 | €1,250 | -€4,042 | -76.4% |
| Taxes | 450/3 | €292 | €250 | -€42 | -14.3% |
| Remuneration and social security | 454/9 | €5,000 | €1,000 | -€4,000 | -80.0% |
| Other amounts payable | 47/48 | €21,000 | €21,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Non-recurring operating income | 76A | €20,386 | - | -€20,386 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,792 | €12,038 | +€6,246 | +108% |
| Other operating charges | 640/8 | €62 | €115 | +€53 | +85.5% |
| Non-recurring operating charges | 66A | €3,712 | €927 | -€2,784 | -75.0% |
| Gross operating margin | 9900 | €13,715 | €20,684 | +€6,969 | +50.8% |
| Operating profit (loss) | 9901 | €4,150 | €7,604 | +€3,454 | +83.2% |
| Financial income | 75/76B | €1,367 | €1,146 | -€221 | -16.2% |
| Recurring financial income | 75 | €1,367 | €1,146 | -€221 | -16.2% |
| Financial charges | 65/66B | €1,404 | €5,832 | +€4,427 | +315% |
| Recurring financial charges | 65 | €1,404 | €4,390 | +€2,986 | +213% |
| Non-recurring financial charges | 66B | - | €1,441 | +€1,441 | |
| Profit (loss) for the period before taxes | 9903 | €4,113 | €2,918 | -€1,194 | -29.0% |
| Income taxes | 67/77 | €2,292 | €2,250 | -€42 | -1.8% |
| Profit (loss) for the period | 9904 | €1,821 | €668 | -€1,153 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,821 | €668 | -€1,153 | -63.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.